Indonesia’s external debt eases in Oct. ’24

Indonesia’s external debt reached $423.4 billion in October 2024, down from $428.5 billion in September 2024, as per a report from Bank Indonesia on Monday. On an annual basis, external debt growth in Indonesia decelerated to 7.7 per cent in the reporting period from 8.5 per cent in September 2024.

The central bank attributed to the lower external debt position to both the public and private sectors.

Government external debt decreased in October 2024 to $201.1 billion from $204.1 billion in September 2024, representing an 8.6 per cent annual growth. The decrease was mainly due to lower loan and debt security positions.

Indonesia’s external debt structure remains sound, with long-term debt dominating 84.5 per cent of the total. The ratio of external debt to GDP decreased to 30.4 per cent in October 2024 from 31.1 per cent in September 2024.

Attribution: Bank Indonesia report

Subediting: Y.Yasser